Finance in Plain Language

What do you rely on when it’s time to make a financial decision?
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For the accountant, it’s tax regulations. For the workshop manager — technical cards, the production schedule, the manufacturing plan. But what about you, the owner? An Excel file with no update date? A message from a supplier in your messenger? A negative bank balance?

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In manufacturing, money moves daily: prepayments to suppliers, employee advances, countless small expenses, payments to contractors, raw material purchases, rent, loans… And without a system, all of this turns into financial chaos.

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Let’s break down the key financial problems manufacturing companies face — and show how Finmap helps bring order to the numbers, reduce chaos, and make confident decisions.

How to Bring Manufacturing Finances Into a Single System

In manufacturing, financial data accumulates across dozens of sources: bank accounts, CRMs with orders, Excel sheets with production line plans, inventory management, accounting. Often this is topped off by the personal cards of owners or managers.

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As a result, the picture is fragmented: to understand the real state of affairs, you have to manually reconcile inventory balances, supplier orders, client payments, and production costs.

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Why this is risky for the business:

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1. Loss of control over working capital — at any moment, you may discover that there's less money in the account than expected.
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2. Risk of cash gaps — raw material purchases and overhead costs are paid before payments from clients come in.
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3. Cost calculation errors — due to incomplete data, it's hard to assess the real profitability of orders or production lines.
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4. Financial chaos between departments — procurement, sales, and production all keep separate records, so the owner sees no single source of financial truth.
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5. Lost time for the owner — instead of growing the business, you’re stuck reconciling spreadsheets and checking balances manually.

All Accounts Under Control — From Bank to Warehouse

The first step toward financial transparency is consolidating all company accounts into a single system. In Finmap, you can add:

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1. ‍Bank accounts, sole proprietorships, cash registers, and cards — and see their balances in real time. Use integrations with banks and payment systems to automate data collection, and import statements to streamline work with banks that don’t integrate.
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2. Petty cash and advance payments — to account for money temporarily held by employees. Add subordinates to the system and set flexible access rights to understand how each department or workshop is handling funds.
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3. Virtual warehouse account — which shows the value of goods or raw materials on hand in monetary terms. Track the movement of goods by value and deduct the cost of materials that were actually consumed.

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Thanks to this, you immediately see how much money is available right now, where it’s stored, and how much is “frozen” in inventory. Balances update automatically and regularly, and you can reconcile all figures in seconds — from any device, anywhere in the world.

Connect Systems That Influence Your Money — and Gain Full Transparency

To get a complete financial picture, it’s not enough to just see account balances — you also need to understand what financial processes are happening across the business. In Finmap, this can be done through the open API.

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You can connect the following to Finmap:

• ‍CRM system — so deals automatically sync with your financial records.
• ‍Inventory management system — to track purchases, raw material write-offs, and see their impact on cash flow.
• ‍Accounting, document management, or other services — if you need visibility into additional business processes.

You can set up the integration yourself or use Finmap’s in-house integration specialist, who will adapt the system to your business structure.

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As a result, you get a unified system that brings together everything that affects your finances: sales, expenses, warehouse balances, settlements. At the center — Finmap, as the single source of financial truth.

Control Over Settlements With Clients and Suppliers

In manufacturing, money rarely moves in sync. You've already paid for raw materials, logistics, salaries — and the client will pay in 15–30 days, or even later. All of this creates cash gaps: money seems to be in circulation, but your accounts are empty.

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At the same time, managing settlements is difficult. Some clients delay payment, others ask for deferments. Suppliers demand prepayment and enforce strict deadlines.

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Without systematic tracking, it's easy to miss a debt, confuse payment dates, or lose credibility with partners. ‍

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Here’s what that leads to:

• You don’t know who owes you and how much — instead of a clear debtor list, you search through messages or spreadsheets.
• You might miss a payment deadline and lose a supplier — because obligations fall out of sight without a unified payment calendar.
• Contractors call before you remember the invoice — damaging your reputation and complicating future cooperation.
• You can’t see when to expect incoming payments or how to plan outgoing ones — it’s all based on guesswork instead of numbers.
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To avoid falling into the trap of cash gaps and losing control over settlements, you should focus on three essential steps. Here’s what to implement — and how it’s done in Finmap:

Why Should You Calculate DSO?

DSO answers a simple but critical question: How many days after a sale do you actually receive the money in your account?

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The higher your DSO, the greater the pressure on liquidity and working capital. According to Kaplan Group research:

42% of companies have a DSO over 46 days — and among large manufacturing firms, that number is as high as 70%.

When this indicator stretches out, it's not just “paper debt” — it’s real money you can’t use for buying raw materials, paying salaries, or growing the business.

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DSO benchmarks for different types of production:

If you control your DSO — you control your liquidity. If not — you’re operating in debt, even if you show a profit on paper.

What Actually Drives Profit in Manufacturing

In manufacturing companies, it’s often difficult to determine which specific products, orders, or business lines are truly profitable.

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The reason — lack of detailed tracking by financial responsibility centers or projects.

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Frequently, both direct and indirect costs (purchases, wages, logistics, rent) are accumulated in a general production account without being allocated to specific product types or customer orders.

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As a result:‍

• Loss-making products are “hidden” among profitable ones, distorting the financial picture.
• Budget is spent on unprofitable areas that don’t generate margin.
• Management decisions are made based on intuition, not analytics.

This is a systemic issue that erodes profitability — even when the company is growing in production or sales volume.

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According to McKinsey:‍

About 40% of executives reduce their product portfolios to lower complexity and increase overall profitability.

Such decisions cannot be made based on gut feeling — they require solid data.

How Finmap Helps Organize Effective Project-Based Management

That’s exactly what the Projects report in Finmap provides. You see each direction — along with its components (subprojects) — as a separate financial unit: income, expenses, cost of goods sold, operating profit, and profitability.

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A “project” doesn’t have to be just a business line. In your company, it could be:

• ‍A specific type of product — for example, production of kitchen furniture, children’s beds, or metal structures.
• ‍A batch for a specific client — a custom order with its own budget, timeline, and expenses.
• ‍Pilot production of a new product — to assess the economic feasibility of scaling it into mass production.
• ‍A contract or tender — such as supplying products to a government buyer.
• ‍Outsourced production — when your company manufactures goods for other brands.
• ‍A specific workshop or production line — to evaluate the efficiency of different departments.
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The importance of project-based management isn’t just a theory. Research from ScienceDirect confirms how unevenly different products contribute to a company’s profitability:

On average, only about 20% of a manufacturing company’s products generate more than 150% of its total profit.
This means the remaining 80% either barely break even — or are actually loss-making.

Can you confidently name which of your products generate the most profit?

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Financially strong manufacturing isn’t about total revenue — it’s about analytics that clarify what should be scaled and what should be cut.

From Chaos in Excel to Structured Accounting: The Case of Practik

PRACTIK is a Ukrainian producer of innovative food for dogs and cats, positioning its product as a complete meal — not just pet feed. To ensure high-quality standards, the company built two factories from scratch in Ukraine — allowing full control over every stage of production.

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The company manufactures products in two main directions: food for cats and food for dogs. Each direction has its own product lines, which are constantly updated and improved.

Before implementing Finmap, the company tried to manage its finances in Excel. But as the business grew and revenue sources multiplied, the spreadsheets could no longer keep up — automation became impossible, and gaining a full financial picture was out of reach.

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However, it wasn’t just about automation. The company had deeper reasons to move toward systematic financial management:

• ‍Cash flow couldn’t be tracked manually — income from different directions merged into a single flow without breakdowns.
• ‍No centralized analytics for decision-making — expenses weren’t recorded in one system.
• ‍Uncertainty about balances and investment funds — forecasting available resources was difficult.
• ‍Multiple business lines, but no unified system — real estate rental, investments, and B2C sales all needed a single financial interface.
• ‍Need for delegation — finances were handled solely by a co-owner, which limited growth

Once the company decided to implement structured financial management, they turned to Finmap’s in-house financial manager. He helped build the right financial structure and configure key processes — tailored to the specific needs of their business.

Chief Financial Officer on an outsourced basis

will help you set up effective financial management and make informed management decisions

Order a free consultation

Control and financial management were then delegated to an internal specialist, Natalia, who is now responsible for the company’s finances and shares her experience working with Finmap:

Once we started seeing all income and expenses in one place, it became much easier to make decisions. Now we understand how much money is available, where overspending occurs, and how prices change month to month.

What Changed After Switching to Finmap

After switching to Finmap, the company gained not just a convenient tool — but a complete financial management system. ‍

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Here’s what changed in practice:

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1. Practik gained full control over its finances. All income and expenses are now in one system, with transparent analytics and clear balances.
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2. Management can now see how much money is available for investment, where overspending happens, and how purchase prices are changing — enabling decisions based on numbers, not guesses.
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3. Financial processes became structured: the team reviews reports monthly, analyzes expenses, and plans the budget based on real-time trends.
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4. Cash gaps are no longer a surprise — only expected and prepared for. Delegating financial management allowed the owners to focus on scaling the business.

With Finmap, we’re putting order not only into our numbers, but into the entire business. It gives us confidence, stability, and the ability to move forward.”
— the Practik team summarizes.

Finmap — A Tool for Control, Confidence, and Growth

Financial management is the answer to daily questions:

• Can we make this purchase today?
• Will we have enough cash for payroll?
• Which product line should we scale, and which one should we shut down?

In manufacturing, these decisions are costly. And mistakes don’t happen due to lack of experience — but due to lack of data.

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Finmap helps consolidate all your financial information into one system, see the real-time picture, build forecasts, and avoid critical errors. That’s why it’s chosen by manufacturers who want to grow — not blindly, but systematically.

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Book a free consultation with a Finmap expert — and see how it works for your business.

Chief Financial Officer on an outsourced basis

will help you set up effective financial management and make informed management decisions

Order a free consultation

Frequently Asked Questions

1. Why switch from Excel if it works?
Excel doesn’t provide a current picture — data gets outdated quickly, it’s hard to consolidate reports from different sources, and there’s no automation. It works up to a certain scale, but then starts slowing growth.

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2. How do I know how much money can be invested vs. kept for operational costs?
You need a system that shows available balances and upcoming obligations. This allows you to make informed investment decisions without risking missed payments.

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3. Our raw material prices are constantly changing. How can we track when and why costs are rising?
Regularly recording expenses in a structured format lets you see purchasing trends and respond to changes in time.

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4. How do I identify where money is being lost if sales are stable but profit isn’t growing?
You need records that show expenses by category and business line. This will help identify overspending, hidden costs, or inefficient processes.

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5. Can financial management be delegated if we don’t have a CFO?
Yes — the key is setting up a proper accounting structure. From there, it can be managed by a responsible person: an accountant, office manager, or administrator. The business owner will receive reports in a clear and convenient format.

When your business operates in three countries, completes 1,500 shipments every month, has a team of 70 people, and simultaneously launches an AI-powered EdTech product — it seems like success and everything under control. Until suddenly, the account balance hits zero, there's a cash gap in the company, and you have no idea where the money went.

We had turnover, active sales, new contracts. But one day I opened the account and saw: there was no money. And this while the business was running at full capacity.
— Oleksandr Stupakivskyi, entrepreneur, guest on the podcast ‘Wish I’d Known This Earlier’

Oleksandr is the co-founder of a logistics company operating in the markets of Ukraine, the USA, and Europe. His business was growing dynamically: thousands of shipments every month, team expansion, entry into new markets.

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But alongside the growth came a cash gap, $175,000 lost due to an unsuccessful partnership, and constant stress from not understanding the business's finances.

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In this article, Oleksandr shares insights and lessons he learned firsthand:

• how a single cash gap can put a large-scale business on pause,
• why the feeling of “we're doing fine” doesn't work without numbers,
• how financial management with Finmap helped systematize operations and reveal the actual situation,
• and why partnerships are a zone of increased financial turbulence.

This isn't a finance textbook. It's an honest story with mistakes, failures, and real tools that help you avoid losing control of your business when everything seems fine.

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Read on if you're also ready to look at your business without illusions.

Insight 1. Even a Large-Scale Business Can Operate in the Red

Growing revenue ≠ more profit. This realization comes painfully. It was exactly this insight that led Oleksandr to face a cash gap during a period of active growth.

We were growing very fast. But because of that, we started to sink. We simply didn’t have time to understand what was really happening with the money.
— Oleksandr Stupakivskyi, entrepreneur.

What happened:
More shipments meant more expenses for prepayments, fuel, salaries, and administrative costs. Meanwhile, client payments often came with delays. This created a financial chasm.

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A cash gap is the most dangerous financial trap for small and medium-sized businesses. It means that your current expenses aren’t covered by incoming payments. And if you don’t control this process, you risk going into debt, losing partners, or even shutting down the business.

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Why is it important to track potential cash gaps daily?

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Many entrepreneurs manage finances “after the fact” — looking at reports, balances, and profits at the end of the month or quarter. But financial control must be preventive, not reactive.

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1. Real-time financial management helps predict when the money will run out and make urgent decisions.
2. Cash flow forecasting allows you to prepare for seasonal fluctuations or payment delays.
3. Financial reserves are your safety net against cash gaps and unforeseen expenses.

When we first encountered a cash gap, it was a shock. We couldn’t understand how, with such sales volumes, there was no money. Now we know — without systematic financial management, a business is doomed to chaos.
— Oleksandr Stupakivskyi, entrepreneur.

How to Prevent a Cash Gap — Key Actions

Read more on how to avoid cash gaps and prevent bankruptcy.

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Before using Finmap, Oleksandr’s company:

• had no clear understanding of the balance between income and expenses,
• didn’t track accounts receivable,
• didn’t build a cash flow forecast.

After implementing financial management:

• there was a clear picture of expenses and profits for each business direction,
• it became obvious which projects were draining money and which were generating it,
• the financial plan made it possible to anticipate a cash gap and prepare a cushion.

Remember: a cash gap is not just a temporary problem but a signal to change your business’s financial strategy. If you ignore it, you risk losing everything you’ve built.

Insight 2. A Partnership Without a Contract — A Costly Mistake

A successful business in one country often creates the illusion that everything will follow the same scenario in another. But when it comes to partnerships, intuition is a poor advisor if it’s not backed by clear agreements on paper.

I had a positive experience with a partner in Ukraine and thought it would be the same in the US. But it cost me $175,000 and a year of lost time.
— Oleksandr Stupakivskyi, entrepreneur.

When launching a business in the US, Oleksandr chose a partnership model without a clear contract, defined roles, or financial guarantees. The result — mismatched expectations, damaged relationships, lost time, reputational risks, and major financial losses.

Why is a partnership without a contract risky?

Many entrepreneurs neglect legal formalization at the start: saying things like “we’re friends,” “we’ll figure it out as we go,” or “we don’t want legal hassle.”

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But business without a clear contract leads to:

• No clarity on who is responsible for key areas (finance, team, marketing).
• No conflict resolution mechanism.
• No record of investment contributions or ownership shares.
• No understanding of what happens if one partner exits.

All of this lays the groundwork for financial losses, legal disputes, and toxic relationships.

What should be documented in a partnership agreement?

How to Protect Yourself and Your Business in a Partnership

1. Document everything from the start. Don’t avoid difficult conversations. An agreement without written confirmation is just an illusion.
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2. Involve lawyers. Even if it’s a shoestring startup — a written contract = peace of mind.
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3. Agree on exit mechanisms. Because every partnership either works or ends.
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4. Maintain separate financial management for each partnership-based business. So you can see the real numbers and react in time.

After that failed experience, I never take a single step without a clear contract. Even if everything starts with a handshake — it ends on paper.
— Oleksandr Stupakivskyi, entrepreneur.

Partnership is not just a shared dream. It’s legal, financial, and reputational responsibility. And if you don’t agree on terms upfront, you risk losing much more than money.

Insight 3. Money in the Account ≠ Profit

Many entrepreneurs fall into the trap: they see money in the account and think the company is profitable. But having funds doesn’t mean it’s your income. Often, it’s someone else’s money, reserves for obligations, or simply an illusion of financial stability.

‍I thought we were in the black because there was something in the account. But in reality, half of that money wasn’t ours.
— Oleksandr Stupakivskyi, entrepreneur.

Even an experienced entrepreneur can end up in a situation where the money in the account isn’t enough to cover taxes or pay salaries. You need to clearly plan what each amount is for — so you don’t discover that the same funds are expected to cover different needs.

Why the account balance is not an indicator of financial health

Oleksandr went through this firsthand. Only after implementing Finmap did he see the full picture: actual balances, upcoming expenses, who was delaying payments, and — most importantly — how much of the money in the account actually belonged to the business.

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Here’s what you DON’T see without financial management:
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1. The total accounts receivable — who owes you and how much.
2. Future mandatory expenses — taxes, rent, salaries.
3. Reserved payouts — amounts already promised but not yet debited.
4. Real cash flow — how much money is actually free to use right now.

How to Tell the Difference Between an Account "Plus" and Real Profit

What Oleksandr Did — and What You Can Do Too:

1. Moved from “gut feeling” to numbers — implemented daily monitoring of actual and planned balances.
2. Tracks overdue payments — so accounts receivable don’t pile up.
3. Started setting aside reserves for taxes and mandatory expenses as soon as money comes in.
4. Analyzes cash flow and project profitability weekly — instead of just looking at the bank account.

‍Financial management finally helped me see how much of ‘my’ money is actually mine. And that transparency changed not just the numbers, but also the way I manage the company.
— Oleksandr Stupakivskyi, entrepreneur.

Having money is no guarantee of profitability. Profit is what remains after all obligations are covered. And if you’re still making financial decisions based on “gut feeling” — it’s time to switch to numbers.

Financial chaos?
Forget it!

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Insight 4. If You Don’t See the P&L — You’re Not Running the Business

Many entrepreneurs rely only on the account balance at the end of the month or the number of sales. But that doesn’t show business profitability at all. Without a clear understanding of what generates profit and what “eats up” resources, you can’t make effective management decisions.

We used to look only at the result — what was left in the account. Now we see what we actually earned and what we spent.
— Oleksandr Stupakivskyi, entrepreneur.

The key report that gives you this picture is the P&L (Profit and Loss), or income statement. It’s not a formality — it’s your main navigator in financial management.

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Before implementing financial management in Oleksandr’s company:

• There was no separation of expenses by direction and project.
• EdTech, logistics, and trading expenses were all counted together.
• No one knew which area was dragging the business down and which one was profitable.
• Decisions were made based on intuition, not data.

After implementing Finmap:

• A clear P&L report for each business line appeared.
• It became clear that trading was profitable, while EdTech was still only generating expenses.
• The team was able to reallocate resources, optimize spending and marketing.
• There was now an opportunity to scale what’s effective — instead of sustaining what’s unprofitable.

What a P&L Report Gives Your Business — In Simple Terms

The P&L showed me something I hadn’t seen before: we were spending resources on a direction that wasn’t generating income. And once that became obvious — the dilemma of where to go next disappeared.
— Oleksandr Stupakivskyi, entrepreneur.

How to Implement P&L in Your Business:

1. Create a financial system — separate income and expenses by direction.
2. Define key expense categories and break them down into subcategories.
3. Choose a convenient tool (Finmap, Google Sheets, ERP).
4. Analyze your P&L monthly — it’s your main tool as a business leader.

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As long as you don’t see the P&L, you’re not managing — you’re guessing. Once the numbers are clear, clarity, logic, and calm emerge in your financial decisions.

Insight 5. Finance Is Not About Reports. It’s About Strategy

Most entrepreneurs start with passion, a product, and the desire to change the world. Then — they hire people, invest in marketing, launch new directions without a clear answer to the question, “can we afford this?”

Before, we were just working. Now — we’re managing. Finance has become our coordinate system.
— Oleksandr Stupakivskyi, entrepreneur.

Finance isn’t about bookkeeping and end-of-month calculations. It’s about making management decisions that affect your business’s growth, profitability, and resilience.

What Strategic Questions Does Financial Management Help Answer

What Changed in Oleksandr’s Company After Implementing Systematic Financial Management:

• Weekly financial meetings were introduced — the whole team sees real numbers and takes part in decision-making.
• Development scenarios are created: realistic, optimistic, and pessimistic.
• It's now clear where spending doesn’t bring results — in marketing, EdTech, and certain projects.
• The company stays ahead of crises instead of reacting to them after the fact.

‍Before, decisions were made based on gut feeling — now, based on models. This saves not only money, but nerves as well.
— Oleksandr Stupakivskyi, entrepreneur.

Financial management isn’t just files for the accountant. It’s your strategic weapon that:

• unlocks new opportunities for scaling,
• reveals weak spots in the business model,
• allows you to build anti-crisis scenarios before something goes wrong.

If you want to grow — first understand where you stand. And that’s only possible through finance.

Insight 6. Don’t Ignore Financial Signals

I saw something wasn’t right. But I didn’t want to dive into the numbers. Now I regret it.
‍— Oleksandr Stupakivskyi, entrepreneur.

Every business goes through tough times. But financial problems don’t come out of nowhere. They build up gradually — and always give signals. Most entrepreneurs just ignore them.

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An entrepreneur keeps working at full speed, ignoring the first cracks — until it all collapses. And it’s financial management that allows you to spot the warning signs before it’s too late.

Typical Signals That a Business Is Losing Financial Stability

Finmap became an early warning system for Oleksandr’s team

Instead of gut feeling — daily analytics. Instead of hope — concrete numbers.

What changed after launching financial control:

• Gained understanding of actual cash flow — when the dips and peaks will occur.
• Became clear which clients were causing cash gaps.
• Alerts and reports were implemented: weekly analysis of receivables, expenses, and financial results.
• The team started responding to problems before they became critical.

The numbers started working for us. Now we’re not putting out fires — we’re managing the situation in advance.
— Oleksandr Stupakivskyi, entrepreneur.

Ignoring financial signals is like ignoring pain in the body. It doesn’t go away — it turns into a crisis.

Insight 7. A Financial Expert Is Not a “Luxury,” but a Strategic Asset That Saves Thousands

Many entrepreneurs postpone hiring a financial expert, thinking: “I’ll figure it out myself” or “It’s too expensive.” But in reality — delay costs much more. It’s the financial expert who helps uncover where the business is losing money every single day.

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After working with a financial expert from Finmap, Oleksandr doesn’t just keep records — he manages the business.

What a Financial Expert Does in a Modern Business — Not Excel, but Strategy

Outsourced CFO + Finmap = the ideal formula for effective financial management

How Oleksandr’s Work Changed After Bringing in a Financial Expert:

• A clear financial model was built for all business areas.
• Regular reports became available to both the owner and the team.
• Every decision is now based on numbers, not intuition.
• The business strategy is no longer chaos — it’s a calculated plan.

The financial expert gave me peace of mind. Now I know what’s happening with the money — and what to do next.
— Oleksandr Stupakivskyi, entrepreneur.

A financial expert isn’t just “about numbers.” It’s about control, clarity, and profitability. If you want to scale, optimize expenses, or enter a new market — having a financial expert on your team will shorten the path by months and save tens of thousands.

Chief Financial Officer on an outsourced basis

will help you set up effective financial management and make informed management decisions

Order a free consultation

Finance Isn’t Scary. What’s Scary Is Not Understanding It

Oleksandr went through a cash gap, lost $175,000, experienced financial chaos — and came out stronger.
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Now, finance is his main management tool — not a terrifying unknown.

Watch the full episode of the podcast “Wish I’d Known This Earlier” with Oleksandr Stupakivskyi:

Bonus: Checklist “Where to Start with Financial Management”

1. Count all expenses and income for at least the past 3 months.
2. Look at balances with planned expenses in mind.
3. Create a P&L — Profit and Loss report.
4. Identify the least profitable direction.
5. Start financial management in Finmap.
6. If you don’t have time to do it yourself — bring in a financial expert.

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Don’t wait for a cash gap to start managing your finances. Try Finmap for your business — and take control of your money today.

Frequently Asked Questions

1. What is a cash gap and why is it dangerous for business?
A cash gap is a situation where current business expenses exceed incoming cash flow. This results in not having enough money to cover salaries, payments to suppliers, and other operating costs. If not controlled, the business risks accumulating debt, losing partners, or even shutting down.

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2. Why shouldn’t you rely only on the bank account balance?
Money in the account isn’t always the company’s actual profit. Some of the funds may be reserved for taxes, salaries, or debts. That’s why it’s important to maintain financial management and regularly analyze financial reports.

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3. How can a partnership without a written agreement affect the business?
Lack of a clear contract leads to misunderstanding of roles, financial responsibilities, and conflict resolution mechanisms. This can result in financial losses, damaged relationships, and even legal disputes. A written agreement protects the business and helps avoid misunderstandings.

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4. Why is it important to maintain financial management and have a P&L report?
The Profit and Loss (P&L) report gives a clear picture of which areas of the business generate profit and which generate losses. It enables informed decisions about investments, cost optimization, and scaling — rather than relying solely on intuition or the bank balance.

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5. When should you bring a financial expert onto your team?
You should bring in a financial expert at the scaling stage or when launching new products. They help build a transparent financial model, forecast cash flow, control expenses, and improve business efficiency. Timely involvement of a financial expert helps avoid financial losses and chaos.

Cash gaps, delayed payments to cosmetics distributors, not enough money to pay stylists, chaotic use of cash from the register — this isn’t the exception, it’s the daily reality for many salons where financial management isn’t a priority.

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There’s no point in finding comfort in the fact that “everyone’s like that.” Successful salons prove the opposite: when finances are managed properly, profit, growth, and peace of mind appear.

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Together with leading beauty industry experts Alina Tymoshenko and Nataliia Honcharenko, we identified three of the most common problems — and their solutions will help you regain control over money, avoid typical mistakes, and finally see your real profit.

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Read to the end if you want to:

• see the full financial picture of your salon;
• anticipate cash gaps instead of constantly plugging them;
• delegate financial management without losing control;
• and start scaling — from a place of order.

Problem #1: You Don’t Know How Much Money Your Business Actually Has

As a business owner, can you answer this: how much money does your salon have at its disposal right now?

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If instead of a clear number you start scrambling — checking banking apps, counting the cash in the register, messaging your team, trying to remember what was supposed to go through the POS — then this issue is already deeply rooted in your business processes.

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The reason is simple: your money is scattered. Some is on business accounts in different banks, some on personal cards, some in the cash register, and some in the hands of your stylists.

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How mixing personal and business money destroys your financial system.

This kind of setup leads to an even bigger problem: mixing personal and business finances.

The first — and most painful — mistake is mixing personal and business money. When one cash register is used to buy everything from studio supplies to groceries, or the day’s earnings are instantly spent on personal needs. As a result, by the end of the month, there’s no way to see a real picture of your income and expenses.
‍- Alina Tymoshenko, mentor and author of educational programs for beauty entrepreneurs

Without a clear financial system, the owner uses any available account — whether it’s the company account or a personal card. It may feel flexible, but in reality, this approach undermines control and stability.

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What this leads to:

• You can’t accurately assess the profitability of the business — injecting personal funds masks real losses.
• The business becomes dependent on the owner's personal finances — instead of evaluating financial efficiency.
• Expense tracking becomes messy — personal purchases can be misclassified in reports, skewing analytics and complicating tax reporting.
• You can’t build a financial cushion or plan investments — because there’s no clearly separated company cash flow.
• It increases financial anxiety and burnout — you don’t feel stable, even when revenue is coming in.

How to Bring All Your Finances into One System

To run your business based on numbers, you need to start with the basics — a complete list of all the accounts your salon uses. Without this, any kind of financial tracking is guesswork, not reality.

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That’s why the first step to financial management in Finmap is to create a clear account structure and get the full picture: how much money you have, where it is, and what part of it is actually available for business use.

Separate business accounts are not a formality — they reshape your mindset as an owner.

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Make it a rule: separate your personal and business accounts — and use them accordingly. For example, dedicate one bank or card for personal spending only, and another exclusively for business operations. Don’t mix them. Even if it’s “just convenient to transfer quickly from your personal one.”

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This simple habit:

• creates a clear boundary between your life and your salon’s finances;
• reveals the true profitability of your business — without distortions;
• reduces stress by stopping you from constantly covering business costs out of your own pocket;
• enables data-based financial analysis, not intuition-based decisions.

Without clear separation between personal and business accounts, there is no real financial control — only the illusion of it. Finmap helps turn chaos into a manageable system from day one.

Problem #2: Unpredictable Cash Flow

You might be tracking daily revenue and have a rough idea of your expenses. But if you’re not planning and forecasting your cash flow ahead of time, you’re heading straight into a cash gap.

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The core issue is this: income is always uneven, while expenses are constant. Without a structured financial system, the money you need simply might not be there when it’s time to pay.

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What it means in practice:

• You have no clear idea how much money will be available in a week or two.
• Salary and rent payments are at risk, because decisions are made without analysis.
• Purchases happen randomly, without accounting for high and low activity periods.

Salon owners often overspend on inventory — ordering too many supplies in advance or buying things that aren’t critically necessary, without analyzing stock levels. These expenses add up and eat into the profits.
‍- Alina Tymoshenko, mentor and creator of educational programs for beauty entrepreneurs

Cash Flow Is More Than Turnover — It’s the Key to Seasonality

Yes, beauty businesses also experience seasonality. For some, it’s a spring peak. For others — autumn. For many — the holiday rush in December. But if you don’t track and analyze your income and expenses over time, you simply won’t see the pattern.

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In Finmap, it’s visible from the very first chart in the Money report — the monthly business dynamics help you quickly identify which months are the busiest.

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This allows you to:

• Plan your team’s schedule in advance.
• Purchase supplies ahead of time.
• Balance workload and prioritize tasks for your team.
• Forecast potential cash gaps and avoid last-minute emergencies.
• Build a system of promotions or gift certificates to boost revenue during low seasons.

A plan isn’t just a formality — it’s confidence. It’s the confidence that at the most critical moment, you have everything under control —not running out of hair dye or supplies during the busiest booking season.

A Financial Safety Cushion Is the Foundation of a Stable Business‍

Another key benefit of tracking your cash flow is the ability to build a reserve fund.

‍The most common issue? A lack of financial safety cushion. Many studios operate month to month, and even after years in business, they remain vulnerable: any unexpected expense (equipment breakdown, sudden rent hike, or force majeure) can throw everything off track.
‍– Alina Tymoshenko, mentor and author of educational programs for beauty entrepreneurs

When you clearly see cash surpluses in certain periods, you can intentionally set some of that money aside. Because the difference between running a business with a financial cushion and without one is massive:

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Money Management: How Finmap Helps You Control Your Cash Flow

So, after gathering all your accounts into a single system, the next step toward financial order is managing your cash flow — tracking the actual movement of money both daily and in a projected mode.

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How to do this in Finmap:

1. Sync your accounts: transactions will be automatically pulled in from integrated banks, or you can import them or enter them manually if you work with cash.
2. Tag categories for each transaction or create auto-rules so expenses and income are automatically assigned to the right line items.
3. Add all planned payments and expected income — rent, salaries, subscriptions, gift certificates, etc.
4. Use the payment calendar to see exactly when money is needed and whether you’ll have enough to cover expenses.
5. Review your cash flow reports weekly — analyze actual balances, seasonality, and business dynamics to make timely decisions.

Finmap turns chaotic money flows into a clear system. Now you can see what’s coming — and act ahead of time. This isn’t just reacting to financial issues; it’s systematic business management.

Financial chaos?
Forget it!

Finmap gives you control and order.

Try it — 7 days for free.

Try for free

no card required

​

But even if you spot seasonality and plan your finances — that’s still not a guarantee of order. Because as long as all decisions, payments, and records are on your shoulders — you are the system.

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And a system that depends on one person is always vulnerable.

Problem #3: You’re Not Delegating the Tasks That Drain Your Energy

Expectation: you have your dream business, successful and running on its own.
Reality: you’re its main engine, its core process, and the only guarantee of order.

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Beauty salons are often born from talent and vision. From the desire to create something beautiful, something special. But as soon as clients, a team, and expenses appear — that dream turns into responsibility.

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The owner quickly shifts from a creative role into:

• the lead stylist (because no one else does it better),
• the receptionist (because someone canceled, and the schedule still needs to be filled),
• the marketer (because reels need to be posted daily),
• the buyer (because supplies need to be found, ordered, and received),
• the decorator and logistics manager (because that new shelf has to be bought and installed),
• the HR manager (because it’s up to you to choose who joins your team),
• and even the cleaner (because you can’t walk past a messy workspace without fixing it).

It’s not the finances that cause problems — it’s ignoring them.‍

Finances don’t call, don’t message you on Viber, and don’t wait at your door with complaints. So among your daily tasks, they’re always postponed. First, the client, the post, the order, the schedule, the team... And the finances stay in your head, in scattered notes, in empty spreadsheets.

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But that’s exactly how chaos begins. That “later” turns into a cash gap, missed salaries, and uncertainty about tomorrow.

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A business doesn’t grow from intuition. It grows from structure. And the first step toward growth is freeing up your time and attention. Start with what matters most — delegating financial management.

How to Delegate Financial Management in Finmap

In Finmap, you can delegate parts of your financial processes to others without losing control. There’s a Users section where you can add everyone involved and set flexible access rights — from full access to limited roles (such as access to a single account or permission to enter data without seeing analytics).

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Chief Financial Officer on an outsourced basis

will help you set up effective financial management and make informed management decisions

Order a free consultation

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And if you don’t yet have a financial specialist on your team — use Finmap AI Copilot. It will generate a clear report, highlight weak points, suggest what to do next, and even warn you about risks you might not notice on your own.

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Remember: financial management isn’t just another task — it’s the foundation of a stable business. To grow, you need to delegate, and Finmap gives you the ability to offload part of the routine without losing control.

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Because your role isn’t to carry everything yourself — it’s to manage a system that works for you.

How to Avoid Financial Mistakes in a Salon: Advice from Nataliia Honcharenko

‍Nataliia Goncharenko is a bestselling author for beauty entrepreneurs and founder of The Concepts Beauty Business School. She firmly believes that financial management is not just an Excel spreadsheet — it’s a full-fledged business culture.

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Without knowledge, discipline, and the right focus, even a profitable salon can end up just breaking even.

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We asked Nataliia to share key tips that will help you take control of your finances.

1. Start with discipline

Debt, cash gaps, lack of funds for salaries — these aren’t the root causes of problems, but their symptoms. The real issue is that the salon lacks even basic financial management. And deeper than that — it’s the lack of discipline.

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In the beauty industry, it’s often entrepreneurial discipline that’s missing. When an owner regularly takes money from the cash register for personal needs, it’s not a mistake — it’s a conscious decision. They choose a cash gap over stability, delayed salaries over team loyalty, and debt over growth.

Discipline is not a talent or education. It’s a personal choice you have to make every day if you want your business to survive and grow.
- Nataliia Honcharenko, founder of the international business school The Concepts Beauty Business School

2. Separate the payroll fund as its own category

One of the biggest mistakes in salon financial planning is ignoring the payroll fund (PF) as a separate expense. If you pay your team a fixed percentage of revenue, the PF grows along with your income. And if the percentage is flexible — increased revenue doesn’t guarantee profit at all.

The payroll fund shouldn’t scale directly with revenue. It’s a strategic expense category that needs separate control.
‍- Nataliia Honcharenko, founder of the international business school The Concepts Beauty Business School

Start treating the payroll fund as an independent expense category. This will allow you to realistically assess the profitability of your services, manage profits, and see where the money is going.

3. Focus on marginal profit first

Average ticket size is a metric that doesn’t give a full picture of your salon’s financial health. What does give a true picture is marginal profit — the amount left after subtracting variable costs from each service or product. This is what covers your fixed costs and generates profit.
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Why marginal profit matters:

• You can see how much money each service or product actually contributes to covering the salon’s expenses;
• You get data to manage variable costs;
• You can apply dynamic pricing and build well-balanced promotional offers;
• You stop setting prices blindly and start factoring in profitability and market realities;
• You can answer the key question: what must the service be like so we can sell it at this price?

‍Please don’t include a made-up portion of fixed costs in your variable cost calculations. And don’t multiply consumables by 2–3–5 — that’s a myth that’s spread across the industry. If you want to learn how to calculate things correctly — consult professionals, not social media advice.
‍- Nataliia Honcharenko, founder of the international business school The Concepts Beauty Business School

Financial stability in a salon starts with simple steps.
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You don’t need to become an accounting pro overnight — it’s enough to take responsibility and be open to learning. Because it’s the systematic approach to money that separates the salon that just survives from the one that grows and becomes truly profitable.

Money under control — business grows

If you recognized your own problems in this article — that’s already the first step toward change. Next comes systematizing your finances, organizing cash flow, and finally seeing your actual profit.

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Because having the best stylists, a line of clients, and a stylish interior — that all matters. But it’s accurate financial management that gives a salon stability, profit, and confidence in the future.

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Finmap is your control system that:

• unites all accounts, cash registers, and expenses in one place;
• shows how much profit each service and specialist brings;
• warns you about cash gaps — before they happen;
• helps form a payroll fund and plan out payments;
• reveals where the money is disappearing — and what to do about it;
• lets you delegate accounting while keeping full control in your hands.

If you want your salon not just to function — but to generate profit — start with financial management.
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Try Finmap and bring beauty to your finances!

Frequently Asked Questions:

1. Why do I need financial management if everything in the salon seems stable right now?
Because “stable” is not the same as “profitable.” Without systematic management, you don’t see where money is leaking, which service is truly profitable, or whether you’ll have enough for next month’s payroll.

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2. How can I tell which services or specialists generate profit, and which ones only create expenses?
You should track each area separately: record income and expenses for each service or specialist individually. This will help you see what’s working efficiently and what needs adjustment or optimization.

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3. What happens if I still mix personal and business money?
You won’t be able to accurately assess the profitability of your business. Personal spending, cash withdrawals, and impulsive purchases distort the picture. Separate accounts and clear division help you see how much the salon actually earns and where the money goes.

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4. Who should manage the salon’s finances? Does it have to be a financial specialist?
Not necessarily. At first, you can manage it yourself or delegate to an administrator, financial assistant, or accountant. The main thing is a clear system, consistency, and understandable rules for everyone involved in the process.

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5. What if I don’t want administrators or specialists to see all financial information?
That’s totally fine. You should configure access rights so that each person sees and handles only what’s within their responsibility — for example, recording petty cash expenses or working only with their own account. This allows you to delegate some tasks while keeping control in your hands.

“We were working at a profit. But our account balance is zero. Where did the money go?” This question stumps many LLC owners. Everything is working: the team, the product, sales — but at some point, there is simply not enough money. Not enough for salaries. Not enough for taxes. Not enough for purchases. A cash gap arises, and the business finds itself on the brink.

The pain is that you don't even see where exactly you are losing.

The accountant says the reports will be ready next month. The Excel spreadsheets haven't been updated in weeks. Money is scattered across accounts, contractors, employee cards — and it's difficult to piece it all together into a single picture.

Why Is This Critical for LLCs?

Businesses operating as LLCs are often complex structures: multiple accounts, departments, and directions.This is not “self-employment” — this is a system. And a system requires precision.

86% of LLC owners have these problems:

• No single system — they have to track cash, expenses, orders, and inventory in different places.Chaos in accounting — it’s impossible to consolidate all financial data in one place.
• It’s unclear which directions are profitable and which are dragging the business down.
• Excel can’t handle it anymore — routine tasks, exports, copy-pasting, mistakes.
• No clarity on whether the business is profitable or if dividends can be paid.
• Financial accounting is not automated.It’s hard to estimate the costs of opening a new location — everything is done “by feel.
• ”There’s no strong finance expert, or they are overloaded / not familiar with the business.
• A turnkey solution is needed — not just another finance course.

And instead of running the business, you turn into a financial analyst — or just close your eyes to the numbers.

How It Works in Practice

Financial accounting for LLCs is not about reports for the sake of reports, but about decisions that change business. Below are examples of companies that saw real figures and were able to make effective decisions thanks to Finmap.

Construction Company: “They Ate Themselves”

The company had six areas of focus: residential construction projects, commercial construction, and repair crews. Thanks to Finmap, they discovered that one area was eating into the profits of two others. Abandoning the unprofitable model resulted in a gain of 410,000 UAH over three months.

E-Commerce With Its Own Warehouse

The owner of a retail business that sells through Rozetka, Prom, and its own website has consolidated all expenses, orders, balances, and payments in one place. This saves over 40 hours per month, as previously all of this was managed in Google Sheets.

Education Business: Emigration School

The Finmap financial model revealed that lead acquisition costs exceed average revenue per customer. Sales department optimization resulted in a 22% increase in quarterly margins.

The statistics speak for themselves:

• 82% of LLC entrepreneurs in the small and medium business segment experience a lack of quality management accounting tools (according to a Finmap survey, 2024).
• Finance automation allows reducing time spent on routine tasks to 10 hours per month.
• Businesses that implement bank integrations with accounting systems increase financial transparency and make decisions twice as fast.

Finmap Integration With Monobank LLC — An Example of Automation Without Headaches

The new partnership between Finmap and Monobank for LLCs is a perfect example of effective business automation. This means that now all transactions appear in Finmap automatically. No exports. No errors. In real time.

The pain of manual data entry is in the past. Now LLC owners using Monobank can connect their accounts to Finmap, and the data will be updated automatically, without any extra actions on your part.

Previously, LLC owners with Monobank accounts couldn’t automatically pull statements into Finmap. Now, everything works simply and intuitively, just like it does with personal accounts.

How it works:

• In Finmap, click “Add integration”.
• Select Monobank LLC.
• If you are abroad, select Ukraine as the country, then Monobank LLC.
  

• Select an account, choose the period from which to pull data, and follow the instructions.

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Bank integrations with Finmap solve a number of problems for LLC owners:

1. Finmap collects all income, expenses, accounts, cash, debts, and investments in one system. The data is updated automatically. Excel is in the past.
2. When you have a project-based business, you need to see what is profitable and what is dragging you down. In Finmap, you can break down accounting by legal entities, departments, or directions.
3. Previously, LLC owners using Monobank had to export statements manually. Now — they don’t. Data is pulled automatically, just like for sole proprietors. No errors. No extra steps.
4. The financial manager has access to all the necessary data for their work, the department head sees only the information related to their unit, and the partner sees only the data related to their share. Full control over access rights.
5. You don’t need a CFO or to understand budgeting. Finmap provides outsourced CFO services who will set up accounting tailored to your business.

Who is this solution for:

• For owners of small and medium-sized businesses who manage LLC accounts in Monobank.
• For those who want to see up-to-date financial data without extra effort.
• For entrepreneurs who need to react quickly to changes in cash flow.
  

What else does a business get with Finmap:

• Over 2,800 bank integrations worldwide
• Support for 114 currencies and 138 cryptocurrencies
• ‍Bank-level security — 256-bit encryption, data stored on European servers
• Automatic analysis of cash flow, P&L, balance sheet, receivables and payables
  

Now for the Main Point: Why Integration With Monobank LLC Is a Must-Have

• Statement automation — no CSVs or copy-pasting
• Time savings — on average up to 10 hours per month
• Real-time data — you see problems before they become critical
• Less human factor — fewer mistakes

Time to face the truth:

Do your projects generate profit — or just look good in presentations?Do you know how much it costs to open a new location — or is it “we’ll see” again?
How much more time will you spend on manual routine?

Ready to see what financial order looks like?

Finmap integrates with Monobank not only for LLCs but also for sole proprietors, and it supports many other bank integrations — choose comfort and automation for your business. Try the Monobank integration now!

You can build with quality, on time, even profitably — and still lose money.

Not because something went wrong on site, but because your finances remain out of control.

In construction, that’s a classic: the number of projects grows, turnover increases — but at the end of the month, the account is empty, contractors await payment, and the numbers don’t add up. The reason is simple: without structured financial management, a business doesn’t grow — it breaks down into chaotic processes.

What exactly isn’t working in your construction business finances — and how do you fix it?

Let’s look at three core problems that destroy profit and how to solve them.

Problem #1: No Detailed Tracking by Project

In construction, everything revolves around projects. You invest in materials, crews, equipment rental — often across multiple projects at once. But when you try to tally things up, the numbers don’t match. Revenue looks good, but the bank balance is zero.

Job costing — the allocation of costs to specific projects — is a basic tool for building real budgets, analyzing efficiency, and forecasting profitability.

Without project-based management, a business quickly becomes unmanageable:

• It’s hard to say how much a single project actually costs.
• Overruns and budgeting errors are impossible to catch.
• The business scales, but profitability declines.
• There’s no way to analyze margins and make informed decisions.

According to a study published on the MDPI portal:

25% of construction companies may face bankruptcy after just two or three poorly costed projects — due to underestimating labor or materials.

How Finmap Turns Chaos into a Controlled Process

In Finmap, you can manage financials by project and subproject — for example, track foundation, roofing, or interior costs separately within one site.

This allows you to see the financial picture not just across the business as a whole, but per project: where overruns occur, which sites are profitable, and which need budget revision.

The system lets you:

• Build a structure of projects and subprojects (e.g. site → subprojects: foundation, interiors, structural work, engineering, etc.).
• Automatically or manually assign and track transactions on the right level.
• Generate key reports — especially P&L and Projects, which provide deep financial analytics.

By aligning Finmap’s structure to your real business model, you go beyond tracking costs — you unlock real financial insights.

The system shows key performance metrics — both across the company and per project. Here are suggested benchmark metrics for construction businesses that Finmap helps you track:

Companies using analytics and job costing make decisions faster and more accurately: a research shows that implementing job costing allows 42% faster resource reallocation across projects, improving business agility.

With Finmap, you’re no longer flying blind — the system gives clear, project-specific data so profit becomes a result of management, not luck.

Problem #2: Cash Gaps in Construction — and How to Avoid Sudden Crises

In construction, cash flow gaps aren’t an exception, they’re the norm. You spend heavily upfront: advances to suppliers, prepayments to subcontractors, material purchases.
Income comes later — after completion or with delays.

Without smart financial management, this leads to:

• Cash gaps even in profitable companies.
• No visibility into upcoming financial strain.
• Delays in payments to vendors and employees.
• Loss of trust from contractors and internal teams.

According to Entrepreneur:

Up to 82% of construction businesses go bankrupt due to poor cash flow management — one of the most overlooked risk zones.

Finmap’s Solution: What Changes When a System Is in Place

Finmap doesn’t just show your account balances — it answers the key question: Will you have enough to meet your obligations in the coming weeks?

The core tool is the Payment Calendar, which tracks all upcoming income and expenses by day and giving you early warning of potential shortfalls.

The system lets you:

• Factor scheduled expenses into your financial projections.
• Track expected income (milestone payments, receivables).
• View cash movement by date, account, and project.
• Forecast cash flow and highlight risk periods.

Cash flow forecasts aren’t just reports, they’re early warning systems. Businesses that see what’s coming don’t react, they plan.

In Finmap, this tool works daily — to ensure money doesn’t disappear unexpectedly, but instead drives growth.

Problem #3: When No One Knows Who Owes What to Whom

In construction, financial obligations pile up fast: dozens of contractors, suppliers, advances, partial payments, petty cash.

Without systematic management, this data cannot be combined into a single picture and even the company's manager cannot accurately say how much money is “in circulation,” how much is actually available, and how much is tied up in debt.

Late payments are widespread. According to PYMNTs:

71% of construction subcontractors regularly face payment delays — often due to the lack of structured obligation tracking.

The consequences of disorderly accounts receivable and accounts payable that your business experiences every day:

• No control over receivables or payables.
• No view of real company liquidity.
• “Leaked” petty cash — with no clear trace or accountability.
• Irregular cash pressure, forcing last-minute transfers, credit usage, or personal funding.

Without obligation tracking, you’re not managing money — you’re chasing it. And the bigger the business, the bigger the chaos.

How Finmap Handles This in Real Business Scenarios

Finmap helps you systematically manage receivables and payables via dedicated reports and planning tools that recognize and reconcile operations.

All obligations — future and overdue — are collected in one system, linked to contractors and due dates. The Payment Calendar includes them in forecasts, so you see not just your balance — but the full picture: How much needs to be paid, when, to whom, and from what source.

Petty Cash Management in Construction: a Practical Fix

Petty cash is a “gray zone” in construction: site managers, supervisors, and buyers often receive cash or direct transfers for small purchases, logistics, or repairs.

Without a system, these funds often go untracked or are reported late. So you don’t know:

• What’s been spent.
• What’s still outstanding.
• What was never returned.

Common issues:

• No receipts, or they’re scattered in Viber / Telegram / private chats.
• Some expenses never get logged.
• The cash register “drops,” and no one’s accountable.
• At month-end, reconciling projects is impossible.

In Finmap, you can manage petty cash per employee — with amounts, purpose, project, and closure status

Here’s a step-by-step framework for gaining control:

If you think petty cash isn’t an issue, and trust alone is enough look at the data Business.com:

67% of employees have violated company expense rules at least once.

ACFE studies show that businesses lose up to 5% of revenue every month due to internal errors, abuse, or simple lack of control.

If your business makes $1,000,000/month — you’re losing $50,000 without even knowing it.

Now multiply that by 12, or 5 years, or 10.

Petty cash isn’t minor. It’s an invisible budget leak, one that grows unless closed systematically.

Finmap Client Case: How an Architect Became a Financial Manager

Bogdanova Bureau is an architecture studio handling full-cycle interior and building projects, with offices in Kyiv and Switzerland. Each project is highly individual with large budgets ($1M to $5M), and responsibility not just for design but for timelines, teams, phases, and costs.

In the early days, there was no structured financial management. Money was scattered across accounts, cards, and cashboxes. Some transactions weren’t logged, some costs went into Excel, some stayed in someone’s head.

Simple questions had no answers:

• How much did we earn?
• Can we cover payroll?
• Which project is profitable?

We’d finish a project — everyone got paid. But we were left with nothing. No money. And no idea where it went. - Olga Bogdanova, founder of Bogdanova Bureau

Things got critical when multiple projects went into the red — by $50K, $80K, even $180K. Reserves were drained. Cash gaps appeared. They had to take loans — but the company nearly collapsed.

That experience became a turning point.

Olga realized: without financial management, you don’t just lose profit — you lose control.

Learn how Olga decided to implement Finmap, built a new financial model, and grew revenue by +173%.

What changed after Finmap:

	Before		After
	Lack of profitability calculation: projects looked profitable but generated hidden losses.		Each project has its own financial model with fixed expenses, profit, operating margin, and fund allocation.
	Money is scattered across accounts, cashboxes, and currencies — it’s impossible to quickly determine balances and available funds.		All accounts are consolidated in a single financial interface: full transparency over cash balances and liquidity.
	Decisions were made based on gut feeling — without analytics, regular reporting, or planning.		Weekly financial reports, a payment calendar, and regular cash flow analysis have been implemented.
	Administrative costs, bonuses, and PR activities were funded chaotically or “from whatever profit remained.”		A fund system has been implemented: reserve, development, and PR — with a fixed % from each project’s profit.
	Strategic plans were built without reflecting the actual financial situation.		Management decisions are now based on numbers: Finmap provides trends, risks, forecasts, and financial signals.

Today, Bogdanova Bureau handles fewer projects — but with bigger budgets. Financial management became the foundation for forecasting, strategic planning, and transforming the business model.

My team is a factory that produces projects. And I need to know exactly how much that factory costs — to be sure we’re earning, not just working to break even. - Olga Bogdanova, founder of Bogdanova Bureau

Now Olga has full clarity: where the profit is, where reserves lie, where growth is possible. The business shifted from manual operation to system-based management.

Finance isn’t about spreadsheets. It’s about choice, clarity, and the ability to act strategically.

Build Your Business on Numbers — Not Assumptions

In construction, every number matters — especially the ones you don’t see at first. Not having a financial system costs you: in time, stress, and money.

Finmap brings structure to the chaos:

• See project profitability;
• Prevent cash gaps;
• Track petty cash and debts;
• Delegate financial management confidently.

Don’t wait until the money runs out again — try Finmap today and take control.

With Finmap, you’re not just building sites — you’re building a profitable business.

‍

Financial chaos?
Forget it!

Finmap gives you control and order.

Try it — 7 days for free.

Try for free

no card required

​

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Frequently Asked Questions

1. Why does construction need project-based accounting?
Because in construction, profitability isn’t about totals — it’s about how each site performs. Without job costing, you don’t see what’s eating margin, where the overruns are, or which project is in the red.

2. Why do even profitable companies face cash gaps?
Because profit ≠ cash. In construction, payments often come late, while expenses happen upfront. Without a payment calendar, it’s easy to have dozens of invoices due — and nothing in the account.

3. How to fix the chaos in contractor and supplier payments?
Structure your contractor data — amounts, terms, and due dates. Use Receivables and Payables reports in Finmap for a full picture of who owes what to whom. You’ll stop missing payments, avoid penalties, and build trust with partners and your team.

4. What about petty cash that always slips through the cracks?
Create separate accounts for foremen and buyers. Give them limited access via the mobile app or Telegram bot. Require receipts. Result: every expense gets logged, nothing gets lost, and your cash flow stays healthy.

5. What practical results can financial management deliver?
Look at Bogdanova Bureau. After adopting Finmap, they overcame cash gaps, optimized costs, revised their project model — and increased revenue by +173%. Financial management turned from a burden into a tool for growth.

A creative product, loyal customers, and a dedicated team — that’s enough for inspiration. But not for scaling.

Without structured financial management, it’s impossible to make informed decisions: where to invest, what to grow, and what to cut.

KLEI printed stickers for well-known clients, sold abroad, received customer praise, and managed everything — except one thing: understanding where they were actually making money and where they were losing it.

As the bank account neared zero while orders kept growing, one question emerged:
Are we actually making money — or just keeping busy?

KLEI: Built on Meaning, Geared for Growth

KLEI is a Ukrainian brand of durable stickers founded in 2017. Instead of mass production, they focused on quality and product value. The company began with a compact team of 10, operating like a family business.

Thanks to founder Mykyta Anikanov’s creative yet pragmatic approach, the business quickly gained momentum, soon landing clients like Reface, Wix, Banda Agency, Wikimedia, and others.

When Finances Become a Bottleneck

On the surface, everything looked great: stable orders, international clients, high quality. Customers in Canada placed orders and were willing to wait weeks for delivery — all without additional marketing.

But in 2021, growth seemed to hit an invisible ceiling. Mykyta realized the core issue was finances. There was no understanding of how much the business was actually earning. Some months showed profit, others ended in the red — and it was hard to explain why.

The causes:

• Cash gaps caused by mixed payment methods
• Unclear cost structure due to order variety
• No single system to show where the business was losing money

At the time, KLEI handled widely varying orders — from 1 to 10,000 stickers, contour-cut, bundled, or corporate.

But they lacked analytics to show which orders were profitable and which were dragging them down. To get clarity and build a foundation, Mykyta decided to implement Finmap.

I want to build a company that’s reliable and doesn’t collapse at the first crisis. That takes time. And finances have always been my weak point — it was really difficult for me. - Mykyta Anikanov, founder of KLEI

From Spreadsheets to a System: What Changed with Finmap

In summer 2021, Mykyta explored Finmap. By autumn, as the business season kicked off, the company fully implemented the system: centralized financial management and shut down Excel spreadsheets.

Key tools and decisions that immediately made an impact:

• Consolidating all data in one system

Before Finmap, financial management was fragmented: separate accounts, spreadsheets, and mental notes. This created constant stress — will everything add up? Do we have enough cash? Did we miss anything?

Before, I’d be calm for two days and then stressed for two weeks. Now it’s the opposite — I’m always calm.
- Mykyta Anikanov, founder of KLEI

• Managing accounts receivable

KLEI often worked without prepayment to speed up the process and secure orders. Late payments seemed rare, but in reality, they caused serious cash gaps.

Money was supposed to hit the account, but delays broke the operational rhythm. Thanks to the Payables report and Payment Calendar, the company identified this weakness and made a clear decision.

After implementing financial management, I saw in Finmap that we really had receivables. So we just said: okay, from now on — prepayment only.
-Mykyta Anikanov, founder of KLEI

• Full control over balances and Cash Flow

Finmap allowed KLEI to see their financial state in real time: how much cash is in the account, which payments are pending, what’s coming tomorrow. This eliminated the constant background anxiety of “feeling” finances — now there are numbers, graphs, and dates.

I open Finmap, see the balance, upcoming expenses, still in the black — and move on. Before, I had to check three bank accounts, spreadsheets, notes — and still be unsure. - Mykyta Anikanov, founder of KLEI

• Categorizing orders

To dive deeper, KLEI created a category structure in Finmap: separate categories for individual stickers and sticker packs. This revealed profitability by product type — not just at the business level, but by direction. They saw what to scale and what to rethink.

Before, we just looked at the total: money came in — so we were fine. But once we started dividing by order types, we saw that not everything was equally profitable.
- Mykyta Anikanov, founder of KLEI

Developing Financial Literacy

Finances were Mykyta’s weak spot — the topic always made him anxious. Alongside Finmap, he completed the “Business Money” course. This allowed him to both delegate operations and personally understand how business finances work.

I used to constantly wonder — will everything add up, will there be enough? Now I understand where those questions come from — and how to answer them.
- Mykyta Anikanov, founder of KLEI

Combining automation with personal involvement gave Mykyta what he needed most — confidence. He no longer relies on intuition. He makes decisions based on reports and real data.

This shifted not just the finances, but the entire business management approach.

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Financial chaos?
Forget it!

Finmap gives you control and order.

Try it — 7 days for free.

Try for free

no card required

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A Financial System as a Prerequisite for Scaling

After configuring Finmap and delegating operations, the system became a steady anchor for the team. All key financial data was in one place, clearly structured by category, and accessible anytime.

This freed up time for what truly matters to a founder: growth, strategy, expansion.

So in 2025, KLEI reached a new level of scaling:

• Raised investment.
• Started building their own production facility.
• Opened new accounts.
• Launched a new financial structure aligned with their growth.

This growth would’ve been impossible without a working financial system already in place — they didn’t have to build from scratch.

When You Know the Numbers — You Know Where You’re Going

Next up: completing their production facility, stabilizing processes, and preparing to enter new markets. Finmap remains central — providing structure, control, and a foundation for every next move.

In the end, Mykyta offers a simple but practical takeaway:

Spend time on finances weekly. Even 30 minutes analyzing the numbers gives you more than guesses or gut feeling. A founder should know what every number means — and make decisions based on facts.

What You Can Learn from KLEI’s Story

Your business might resemble KLEI’s: a solid product, loyal customers — but inside, no clear view of expenses, constant cash gaps, and a lingering sense that something’s off.

KLEI stopped in time, looked into their finances — and saw the real picture. That gave them the confidence to scale, raise investment, and grow with clarity.

If you're reading this, you're probably on the path to financial clarity.

Here are a few lessons KLEI learned — so you don’t have to go through it blindly:

• No system = no control.
• Profit “by feel” = risk of a cash gap.
• Order in finances = not about Excel, but about automation, consistency, and the right tool.

Do what KLEI did: don’t wait for a crisis to get organized.

Try Finmap and see how business changes when financial clarity arrives.

Frequently Asked Questions

1. Why did a company with stable orders still face financial trouble?
Because orders ≠ profit. KLEI lacked a system to show what actually brings in money and what just adds turnover. This led to cash gaps and unclear costs.

2. What action creates immediate impact, regardless of industry?
Centralizing all accounts, income, and expenses in one system — and reviewing them daily in one window. This reduces chaos, brings clarity, and removes the risk of forgetting something.
For KLEI, that was the point where real control began. It works for any business, any niche.

3. Is Finmap suitable for small or creative businesses?
Yes. KLEI is a small business with a creative product. Such companies often operate on intuition. Finmap lets you stay creative — while seeing the real money.

4. What if I don’t understand finances?
Mykyta from KLEI wasn’t a finance expert either — and he says so. He delegated the bookkeeping, took a basic course, and learned to read reports. Finmap is made for founders who want clarity without getting lost in routine.

5. What results did KLEI achieve after organizing their finances?
They raised investment, launched their own production facility, built a new financial structure, and upgraded operations — all based on data, not assumptions.

When your account balance is zero, your pocket holds $2, and you're staring down $120,000 in debt. All while your business still has sales, a team, and clients.

I was standing in the kitchen with $2 in my pocket, thinking: that’s it, there’s no way out. Three years later — I paid back every cent of my debt. If I had tracked the numbers earlier, none of this would’ve happened. — Ekaterina Vishnevetskaya, entrepreneur, guest on the podcast “If Only I Had Known”

Ekaterina Vishnevetskaya — partner at Genius Space Teleport, co-owner of the international educational project Proryv, and an entrepreneur who missed the signs of a cash flow gap. The result: minus $120 000, creditors, panic, and a complete business reboot. She rebuilt everything from scratch — slowly and painfully.

Today, Ekaterina shares the lessons that apply not just to project-based businesses, but to any entrepreneur who wants to avoid losing everything.

This isn't a finance lecture. It's real stories, real mistakes, real numbers — and the exact steps that helped her:

• stay out of the debt trap,
• keep money under control, even without a financial background,
• organize the budget without messy Excel sheets,
• and finally stop living from one launch to the next.

Keep reading — it's honest, sometimes painful, but incredibly useful.

Lesson 1. You’re Not an ATM for Your Business — and Your Business Isn’t Your Wallet

The Problem: Mixing Personal and Business Finances = a Ticking Time Bomb

You estimate profits “by feel” and celebrate every incoming payment — only to spend that money on personal expenses the next day. A month later, your accountant shows that you’re short $5 000 for salaries and ads — and you have no idea how that happened.

We were using this month’s revenue to pay off invoices from three months ago — because we kept everything in one pot: personal and business. It was a ticking time bomb. — Ekaterina Vishnevetskaya

Why It’s Dangerous for Your Business

• Distorted picture. You see $7 000 in the account and think it’s profit — but $6 000 is actually client prepayments that still need to be fulfilled.
• Working capital disappears. When you pull out money for personal use, your business is left without cash for inventory, services, or marketing.
• One delay = cash flow gap. Two late payments — and suddenly you can’t pay last month’s bills, because you didn’t have a reserve.

The solution: create a clear financial boundary between you and your business.

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Results in just one month

• A clear view of your company’s actual profit.
• Confident expense and investment planning — without the fear of “will we have enough for payroll?”
• Your personal finances no longer depend on how many clients paid today.
• Transparent financial reports — so investors and partners trust the numbers, not just your words.

Most importantly: if you mix personal and business money, a cash flow gap is only a matter of time.
Set up a border now, and your business will breathe freely, and you will be free from panic.

Lesson 2. How You Lose 30% of Your Money Every Day Without Noticing

The Problem: Thousands of Small Transactions Quietly Draining Your Cash

You focus on big bills — rent, inventory, salaries — while minor expenses of $2 – $4 silently eat away your profits. Coffee, taxis, subscriptions, office supplies — all those “little things” add up to a big loss. By the end of the month, you’re looking at the numbers and wondering:

A thousand small transactions, each for $2 – $4, and suddenly there’s a 30% hole labeled ‘miscellaneous.’ That’s how money disappears — without a trace. — Ekaterina Vishnevetskaya

Why It’s Dangerous for Your Business

• Small expenses drain your focus and your budget. They seem harmless, but they quietly shrink your margin and make your business less profitable.
• Lack of clear control. Without weekly tracking, even tiny subscriptions or impulse buys accumulate — becoming a black hole in your budget.
• Worsened financial planning. When the “miscellaneous” category keeps growing, it’s nearly impossible to forecast expenses or profits.

The solution: a weekly 10-minute check-in to review and control small expenses.

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Results in just one month

• A real understanding of where your money is going — and where you can cut back.
• Higher profits, because you’re no longer losing money to invisible cash leaks.
• More accurate and predictable budgeting.
• Peace of mind for you as the owner — because everything is under control.

Remember: big money is made up of small money. If you don’t control the little things, they’ll become your biggest financial enemy.

‍

Financial chaos?
Forget it!

Finmap gives you control and order.

Try it — 7 days for free.

Try for free

no card required

​

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Lesson 3. A +20% Buffer: Your Financial Safety Net That Can Save Your Business

Why Adding 20% Isn’t a Luxury — It’s Real Insurance for Your Business

I multiply any expense by 1.2. If there’s anything left — it goes into the reserve. If not — I was ready for it. — Ekaterina Vishnevetskaya

No one asks your permission when exchange rates spike or inflation surges. A marketing campaign might suddenly need more funding to actually perform. A client might request a refund even after payment — and you need to plan for that in advance.Without a buffer, even small surprises can turn into a cash flow crisis that hits your business hard.

How to Create a +20% Buffer Budget in 4 Simple Steps

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Results in just one month

• You’ll stop fearing unexpected costs — and start handling surprises calmly.
• You’ll build a real financial cushion — without stress or panic.
• Your business becomes more stable, and you become more confident in the future.

Even if you don’t spend the reserve — it gives you peace of mind.

Think of it like life insurance — for your money. Don’t wait for a crisis to catch you off guard. Learn to plan with a buffer — and your business won’t collapse at the first unexpected hit.

Lesson 4. A Financial Cushion Is Your Bulletproof Vest in an Unstable World

Why a Financial Cushion Isn’t Just About Money — It’s About Business Survival

Our courses launch every three months. If one launch fails — without a cushion, the company won’t survive until the next one. — Ekaterina Vishnevetskaya

In project-based businesses, income is inconsistent: one month there’s a launch, the next — silence.
Without savings, even a small delay or failed campaign can sink the company.

No financial cushion means you’re forced to cover operating expenses with loans or debt — and that’s a fast track to collapse.

There’s a Simple Formula for Building Your Financial Cushion

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The Result:

• You get a bulletproof vest that absorbs unexpected shocks and gives you time to recover.
• You gain confidence knowing that even if something goes wrong, your business won’t go under.
• This cushion is your life raft — it helps you stay afloat until the next successful launch.

This pillow is like a lifeline that helps you survive until the next successful launch. — Ekaterina Vishnevetskaya

Lesson 5. A Cash Flow Gap Is Your Most Painful — but Most Valuable — Teacher

$120,000 in debt and zero in the account. It hurt — but that’s when I learned to truly respect the numbers. — Ekaterina Vishnevetskaya

Three Signs a Crisis Is Already at Your Door:

• You’re paying off old bills with new sales — like using a credit card to cover other debts.
• Client prepayments are spent on current expenses instead of business growth.
• Payroll dates keep getting pushed, and accounts receivable keep growing.

If any of this sounds familiar — it’s time to act.

The “Stop-Debt” Algorithm: How to Keep Your Business Alive in a Crisis

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The Result: The crisis becomes a lesson — not the end of your business.

A clear action plan gives you strength and motivation to move forward while keeping your team and reputation intact.

Debt isn’t a death sentence — if you stop in time and take control of the situation. — Ekaterina Vishnevetskaya

Lesson 6. Future Costs — Not Past Prices — Ignoring This Difference Pulls Your Business into the Red

A product I bought for $1,000 two months ago now costs $1,100.If I leave the old price in the budget — I’m guaranteed to lose money. — Ekaterina Vishnevetskaya

Why You Need to Think in Future Prices, Not Past Ones

Prices are constantly rising — due to inflation, logistics, or raw material costs.
If you don’t update your cost estimates in your financial models, your budget becomes inaccurate and unprofitable. It’s like driving a car with a fuel gauge that shows yesterday’s fuel level.

How to Avoid This Trap

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The Result: You stop losing money due to outdated numbers. Your business stays aligned with the market and remains financially stable.

A financial model is a living document — you need to keep it in shape. — Ekaterina Vishnevetskaya

Lesson 7. A Balance Sheet Isn’t Just About Expenses — It’s a Strategic Transformation of Your Money

Why Understanding Balance Matters

Buying equipment isn’t just spending — it’s investing in an asset.
An asset can be sold, rented out, or used to scale the business.

Without understanding your balance sheet, you can’t make smart decisions — whether it’s better to buy or rent, spend or invest.

How to See Your Balance Sheet in a New Light

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The result: You turn your budget from a list of expenses into a growth tool.

Lesson 8. Visualization and Delegation — Financial Control at a Single Click

I get lost in spreadsheets. In Finmap, I opened the dashboard — found the error in five minutes and fixed it. — Ekaterina Vishnevetskaya

Why Founders Need Instant Financial Visibility

Even if you have a CFO, you must be able to see the real picture at any time. Without that, you risk staying in the dark and missing critical issues.

How to Combine Delegation with Control

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The result:You control your finances without Excel or complicated reports.

Visualization is financial radar — it keeps you one step ahead. — Ekaterina Vishnevetskaya

Instead of a Conclusion: Take the First Step Today

1. Open a separate bank account for your business.
2. Set up bank sync in Finmap — it takes 3 minutes.
3. Set aside the first 3% of your profit into a financial cushion.
4. Review the budget for your next project and add a 20% buffer.
5. Check your minor expenses and reduce the “miscellaneous” category to 5% or less.

Controlling the numbers is an investment in my peace and freedom.$25 a month vs. $250,000 in potential losses — the choice is obvious. — Ekaterina Vishnevetskaya

Ready to turn your business from chaos to control? Leave a request — our experts will show you exactly what’s happening with your money, for free.

Frequently Asked Questions

1. How do I separate personal and business finances if I’m just starting out?
Start by opening a separate business bank account and setting a fixed “owner’s salary.” This helps prevent mixing personal and business funds from day one.‍

2. Why is it so important to track even small expenses?
Seemingly insignificant payments — coffee, subscriptions, taxis — can add up to serious amounts and eat up to 30% of your budget, harming profits. Regular review and categorization of expenses help maintain control and avoid surprise cash flow gaps.

3. Why add a 20% buffer to the budget? Isn’t that overspending?
The buffer acts as insurance for your business against unforeseen events — currency fluctuations, extra marketing costs, client refunds. It helps avoid crises and keeps your business stable.

4. How much should I save for a financial cushion, and why is it necessary?
Ideally, set aside 3–10% of your net profit monthly until you’ve built a reserve that covers at least three months of regular expenses. These funds must remain untouched — even for debt repayment.

5. What if I’m already facing a cash flow gap and debt?
Be transparent with creditors and ask for a 3-month payment delay. Focus on boosting sales and marketing, and pay down debts gradually — track payments in a spreadsheet for control and motivation.

6. How do I account for rising costs in my budget?
Include a forecasted cost increase (e.g., +5–10%) in your financial model, and compare it monthly with actual expenses — this helps prevent losses.

7. Why is a balance sheet more than just tracking expenses — it’s about transforming assets?
Buying equipment is an investment in an asset you can rent out or sell. It opens new opportunities for the business instead of just draining funds.

8. How can a business owner stay financially aware even with a CFO?
Even with a CFO, you should have fast access to key financial metrics via simple tools (like Finmap) to make informed decisions and stay in control.

You’re selling every day: website, Instagram, marketplaces. Money is coming in — but every day you’re asking yourself the same question: “How much is my business actually earning?”

Sales are growing, turnover is increasing, yet finances remain unstable despite this growth. One day there’s not enough money for advertising, the next — not enough for inventory. Instead of a clear financial picture, there's chaos and confusion. Is your business actually making money or just staying afloat?

In retail and e-commerce, mistakes are costly.

You offer a discount but forget to factor in logistics — and you’re operating at a loss.
You launch an ad campaign but overlook expenses — and your profit vanishes.

Without a clear financial picture, decisions become guesses. And guesswork means a risk of bankruptcy.

Common Financial Problems in Retail and E-commerce

You’re constantly making dozens of decisions: how much to invest in advertising, when to pay suppliers, which product to order. But without a clear financial system, these decisions are almost always made blindly.

Here are 5 common problems that hold businesses back from scaling:

1. No Unified Financial System

Multiple business accounts, acquiring, marketplaces, cash on delivery, cash — your financial data is scattered across various dashboards and spreadsheets.

If this data isn’t consolidated in one system, you have no real picture of how much money you actually have, what income is expected, what’s already spent, and what should still come in.

Consequences:

• Every time you check your balances, it feels like a full audit, draining your time and nerves. Instead of managing the business, you’re searching through Excel files and online banking accounts.
• Your financial manager or accountant lacks up-to-date information. This can easily lead to exceeding turnover limits, additional taxes, or refunding clients.
• Calculation errors cause cash gaps, late payments, missed purchases — or funds get blocked on an account and can’t be used when needed.

The owner shouldn’t be spending time manually aggregating data — they should see the full financial picture in two clicks. That’s the foundation of effective management.

2. It’s Unclear What Actually Generates Profit

Most e-commerce and retail companies only know their revenue figures. But which product is actually profitable, which channel brings margin, and which one just burns resources — is usually not tracked.

According to a PwC Strategy report:

Around 50% of products in a typical sales portfolio generate less than 5% of gross margin.

Consequences:

• You’re selling a product that seems profitable or popular but is actually killing your profitability.
• Scaling becomes hard — you don’t know which products are worth promoting.
• Advertising budgets go to campaigns that don’t deliver meaningful returns.

It doesn’t matter how much you sell. What matters is how much you earn from each item. Your decisions should be driven by the margin on products and channels.

3. Cash Gaps Due to Disorganized Settlements

In your business, you deal with dozens of contractors every day: suppliers, logistics companies, managers, freelancers. Each has their own payment terms: prepayments, partial payments, advances, 7/14/30-day delays.

But without a systematic approach to tracking these settlements, you lose control: you don’t know who still owes you money and who you should have paid yesterday.

Consequences:

• Cash gaps appear: you seem to have money in the account, but it can disappear the moment an angry supplier calls.
• You incur penalties, shipments get blocked, clients are lost.
• You have to “put out fires” with your own money — covering payments from your personal funds or on credit.

Financial relationships with partners must be under control. Every payment should be planned and transparent — otherwise, it’s not a business but a chain of chaotic reactions.

4. No Financial Planning

In most e-commerce businesses, money comes in only after the order is fulfilled.

But most expenses are regular and often require prepayment: you need to buy inventory in advance, launch ads, pay advances, cover delivery costs, handle returns, and so on.

Consequences:

• If you don’t plan when and how much money is coming in — sooner or later you’ll face a situation where there’s not enough cash on hand or in the account.
• Payments are made using credit or loan limits, which leads to extra costs.
• Profit becomes unpredictable — you’re never sure until the end of the month whether you’ll break even or not.

According to JPMorgan Chase, over 60% of businesses don’t even have a basic monthly cash flow model. How long do you think those businesses can survive?

Without financial planning, you’re not managing money — you’re constantly fighting the consequences of not having it.

5. Money Frozen in Inventory

One of the most common financial mistakes in retail and e-commerce is buying inventory without a financial rationale. Decisions are often made emotionally: “It’s a good price,” “It’ll sell in season,” “It doesn’t spoil — let it sit.”

But every batch of inventory is frozen money. And if you don’t know whether you can sell this volume, at what margin, and whether the profit will cover ads, shipping, packaging — it’s not an investment, it’s dead weight.

Consequences:

• Without calculating full cost and margin, you can easily stock up on products that look profitable, but after shipping, packaging, and fees — you’re basically giving them away for free.
• You can’t pay for what’s truly necessary — because your money is frozen in inventory.
• You can’t grow sales because you don’t know which products actually make money.

Every purchase should be guided by analysis: can we sell it, how much will we earn, and is this better than spending the money on ads or growth?

‍These aren’t all the financial problems e-commerce and retail businesses face. But these are the most dangerous ones.

They eat into profits, block growth, and create ongoing instability.

If left unresolved, scaling won’t bring growth — only more chaos.

Why Having a CRM Doesn’t Mean You’re in Control of Your Finances

Many entrepreneurs mistakenly believe that if they already use a CRM, their finances are under control. Yes, a CRM is important — but it’s designed for managing sales, not money.

A CRM helps you sell — and that’s its core purpose. It:

• Tracks leads and customer inquiries;
• Shows sales stages and funnel progress;
• Helps manage your sales team;
• Calculates conversion rates, average check size, and KPI performance.

But it doesn’t answer the key financial question: is the business profitable?

A CRM doesn’t track real expenses — for advertising, delivery, packaging, salaries. It doesn’t know when marketplace payouts are due or when you need to pay a supplier.

It won’t show how much money you have, how much is blocked, how much you owe, or how much is needed to cover all obligations.

CRM is about who bought. Financial management is about what you earned.

And if you want to manage your money — not just record sales — you need a dedicated tool.

Finmap — Real-Time Financial Management

Finmap is an online tool for financial management that gives you a complete view of your finances.

Finmap gathers everything in one place, automates routine tasks, and shows you where the profit is — and where the expenses are.
This is not “accounting for the tax office” — it’s a tool for making managerial decisions.

For retail and e-commerce, this is critical:
Cash flow is unstable, expenses are scattered, and data is stored in dozens of different sources.

No More Chaos: All Your Money — Under Control in One Dashboard

Finmap brings all your financial sources into one system: bank accounts, acquiring platforms, marketplace data, cash on delivery, and physical cash — everything in one place.

It also offers an open API, letting you connect your CRM or other tools so the system captures not just payments but also sales data automatically.

Result: At any moment, you see exactly how much money you have, where it came from, and where it's going.
This isn’t just convenient — it’s profit control.

Automate Your Finances — Manage the Business, Not Spreadsheets

Finmap helps you automate financial processes in just a few simple steps — without extra routines or constant manual control:

Result: All your data updates automatically. No errors. No delays. You finally free up time for strategic decisions, growing your business, and increasing profits — instead of chasing numbers.

“Projects” Report — See Profitability by Business Line

Want to know what actually brings profit:
Sales from Amazon or Instagram? Wholesale or retail? B2B or dropshipping?

Finmap lets you break your business into separate “projects” — by sales channels, business lines, product lines, brands, or marketplaces.
And then see income, expenses, and profit by each one.

‍Result: You make decisions based on margin and profitability. You scale what works — and cut what drags you down.

Payment Calendar — Your Financial Planner

Tired of putting out fires?‍

With Finmap, you see all upcoming income and expenses day by day — and can spot potential cash gaps before they happen.

‍Result: You plan cash flow ahead of time, meet your payment obligations on schedule, avoid shortfalls, and manage your business proactively — not in panic mode.

Inventory in Money Terms — See Profit, Not Just Stock

You bought the goods but haven’t sold them yet. The money’s already gone — but the profit hasn’t come in.

Create a separate “Warehouse” account in Finmap, where you’ll track inventory movements in money terms, not just item counts.

Result: You see exactly how much you earn from the products you’ve sold.
You don’t confuse spending with assets — especially critical for businesses with large inventory balances.

Control Payables and Receivables — Avoid Cash Gaps and Losses

Many businesses lose money not because of low sales, but because they don’t get paid on time — or fail to track their own obligations.

Finmap lets you track every debt: who owes you, how much, and when it’s due.
And vice versa — who you owe, payment dates, what’s already paid, and what’s still outstanding.

‍Result: All your receivables and payables are under control. No more forgotten payments, lost clients, or damaged reputation. You can forecast cash gaps, manage working capital, and know exactly what you can count on.

A Flexible Tool for All Your Needs

Beyond core features, Finmap easily adapts to the way your business works. You can:

• Track salaries and bonuses paid to your team
• Delegate routine tasks to employees using flexible access rights
• Analyze profitability by client, marketplace, or ad campaign
• Monitor how much each team member earns and spends
• Send invoices and track client payments

Result: You don’t just get accounting — you get a financial system tailored to your business. From day-to-day operations to strategic analytics — everything that affects your profits is under control in one workspace.

Finmap Client Case: From Financial Chaos to Strategic Management

Klebrig is a hypermarket of chemical products that repackages and sells chemical goods. They operate their own production of products for household and food industry use and deal with a large product catalog, regular procurement, and constant logistics costs.

Before implementing Finmap, their financial management was limited to Excel sheets. The accountant handled taxes, but the owner didn’t trust the overall financial picture.

It was only after the founder, Andriy, stepped out of daily operations and started tracking money himself that he discovered serious gaps:
cash flow problems, no control over operating and working capital expenses, and inaccurate P&L analysis.

‍There were days when the money simply wasn’t there — but I knew it was supposed to come in.
Managing money and actually seeing the big picture are two different things. - Andriy Femyak, founder of Klebrig

At first, they used Finmap just to track money and centralize all financial sources in one system.
But once Andriy explored it further, he realized that Finmap is a comprehensive financial management tool showing the full picture:
income, expenses, working capital, and liabilities.

Initially, Finmap was just a payment tracker. But over time, it became an analytical system — helping us assess profitability, plan investments, and avoid financial mistakes. - Andriy Femyak, founder of Klebrig

The company built its financial system around three core components:

• P&L reporting — to assess profitability monthly and identify unprofitable areas
• Cash flow forecasting — to plan working capital and see when actual funds would be available
• Expense control — to structure costs across operations, procurement, and growth

As a result, financial decisions in the company are no longer made at random.

Financial decisions are no longer based on guesswork. The business sees not just what has happened — but what’s coming next:
When the money will arrive, whether it’s enough for raw materials, and if there’s a reserve for investments.

That allowed Klebrig not only to stabilize finances — but to shift toward strategic financial management.

A word of advice from Andriy to other entrepreneurs:

‍Before you invest in anything, clearly separate what counts as operational expenses and what counts as working capital.
Calculate full cost — including logistics, packaging, and fees. Without that, no investment will bring you profit.

Finmap: Financial Control for Retail and E-commerce

This isn’t just a convenient tool — it’s a mission-critical foundation for your business’s stability, growth, and profitability. Finmap:

• Brings together all income and expense sources into one system
• Automates financial management
• Shows profitability by product, sales channel, and business direction
• Helps forecast cash gaps
• Tracks business and product seasonality
• Controls receivables and payables
• Gives you the complete financial picture for confident decision-making

Finmap is your foundation for real profits and scalable growth.‍

With Finmap, you don’t have to guess where your money is — you know.

Launch your financial system today — and start earning, not just selling.

‍

Financial chaos? Forget it!

Finmap gives you control and order.

Try it — 7 days for free.

Try for free

no card required

‍

Frequently Asked Questions about Financial Management in Retail and E-commerce

1. We already have a CRM. Why do we need Finmap too?
A CRM manages orders — not your money. It doesn’t account for actual expenses, show cash gaps, or provide P&L reports.
Finmap answers the core question: Is your business profitable, not just selling?

2. We use Excel for everything. Isn’t that also financial management?
Not really. Excel means manual work, constant errors, and outdated info.
Finmap automates it all, syncs with your banks, and gives you real-time financial visibility — not “after-the-fact” reconciliations.

3. We’re a small business. Do we really need a system like this?
Small businesses often suffer the most from cash gaps and poor spending decisions.
Finmap isn’t about company size — it’s about control. Start small so you can grow with confidence.

4. We’re already profitable. Why add another system?
Profit without transparency is luck, not strategy.
Without control over cash flow, margins, and obligations, you can’t scale safely.
Even profitable businesses can burn out from one cash gap if they’re not planning ahead.

5. Can Finmap show which products and channels are profitable?
Absolutely. You’ll see profitability by product, channel, or marketplace — so you can double down on what works and cut what drains resources.

6. I’m not a finance expert. Will I even understand it?
Finmap isn’t made for accountants — it’s made for business owners.
Clean dashboards, clear reports, no jargon.
Your financial picture is just a few clicks away — so you can make smart decisions without getting buried in spreadsheets.

As part of a new investment round, Finmap has secured a strategic partnership with the UK venture capital fund 1991 Ventures. The company raised funding within a deal totaling over $1 million. The fund specializes in early-stage investments with a focus on supporting businesses from Eastern Europe.

1991 Ventures helps innovative companies scale internationally, offering not only capital but also strategic support in market expansion and product development.

An investment from such a reputable partner is a powerful signal of trust from the market — reinforcing Finmap’s position as a leading financial management platform for small and medium-sized businesses. It validates the product, the team, and the strategic vision as meeting the highest global standards.

Why Did 1991 Ventures Invest in Finmap?

Finmap is a user-friendly online platform for financial management that has already helped over 4,000 companies bring clarity to their finances.

Entrepreneurs from more than 100 industries choose Finmap not only for its intuitive interface and powerful features but also for its high level of data security. The platform complies with international safety standards used by leading global companies and banks. All data is transmitted and stored on secure servers in Europe using 256-bit encryption — one of the most robust encryption methods in the world.

Finmap is a leader among financial management tools for small and medium-sized businesses in Ukraine.

The platform integrates with over 2,800 banks and financial services worldwide, supports more than 35 fiat currencies and over 80 cryptocurrencies. In addition, Finmap’s team of experienced financial experts is ready to assist with financial management, mentorship, and the development of custom financial models for businesses.

70% of businesses fail due to financial issues. Not because of the idea, not because of the lack of demand — but due to lack of control over their finances.

That’s exactly the problem Finmap solves.

We invest when we see both strong product potential and a team with the strategic vision and operational discipline to scale effectively. Finmap is a prime example — a technology startup tackling a clear, large-scale business challenge that demonstrates not only product-market fit, but also the traction and maturity needed for global growth.
— a representative of 1991 Ventures on why they invested in Finmap.

The investors also highlighted:

• Consistent traction across Ukraine, the European Union, and Latin America — clear proof of Finmap’s ability to operate globally.
• ‍A strong team that continuously improves the product.
• A strategic vision — Finmap is more than just a financial management tool. It’s a platform that brings clarity to business finances and supports well-informed decision-making.
  
• A systematic approach to entering new markets and rolling out new features.
  

This is more than just a deal — it’s a strategic partnership that creates new growth opportunities for Finmap and its users.

We believe that Finmap is already synonymous with effective financial management for entrepreneurs who value growth with confidence and control.

What Does This Mean for Finmap Users?

The investment from 1991 Ventures opens up new opportunities that will directly enhance the experience of our users:

1. AI-Driven Analytics: More Confidence in the Future

We're introducing AI-powered analytical tools that will:

• Forecast cash flow based on historical data and seasonality.
  
• Identify potential cash gaps before they become a problem.
  
• Highlight which expenses to optimize and which projects drive the most profit.
  

What this means for users: Faster strategic decisions — powered by real-time business data and automated insights.

2. Faster Market Expansion with Deep Localization

We’re expanding our localization efforts to include:

• Support for local currencies, banks, and payment systems (e.g. Brazil, Turkey, Portugal, Asia).
  
• Region-specific pricing plans.
  
• Local payment methods and language options.
  

What this means for users: Finmap adapts to any market — so you can scale without barriers.

3. Enhanced Mobile Experience

We’re improving the Finmap mobile app with:

• A redesigned UX for faster onboarding and more intuitive navigation.
  
• Improved app stability in regions with technical limitations (e.g. Latin America).
  
• Timely notifications about key events and updates.
  

What this means for users: Effortless financial control — anytime, anywhere.

4. More Powerful Analytics and Reporting

We’re upgrading reports with:

• Advanced filters, category breakdowns, and account grouping.
  
• The ability to set base currencies for multi-currency businesses.
  

What this means for users: A deeper understanding of your business finances, even with complex structures.

5. Integrations with Banks, Payment Systems, and CRMs

We’re enabling tighter integration with:

• Banks for faster transaction tracking and reduced manual input.
  
• Crypto wallets.
  
• CRMs — to connect financial and customer data in one place.
  

What this means for users: Less manual work, fewer errors — and more time to grow your business.

Financial chaos?
Forget it!

Finmap gives you control and order.

Try it — 7 days for free.

Try for free

no card required

​

In Summary, Finmap Users Will Get:

• Global reach — local banks, languages, and currencies.
  
• Routine automation — financial tracking that runs on autopilot.
  
• Powerful reporting — get clear answers to your financial questions.
  
• Reliable mobile app — control your finances on the go.

AI analytics, automation, localization, flexible reporting, and integrations — this isn’t just a set of features. It’s a complete system for financial management that replaces chaos with clarity and control.

• You’ll see exactly where your business is losing money.
• You’ll predict cash gaps before they happen.
• You’ll know which costs fuel growth — and which ones drain resources.
• You’ll get a full financial picture — all in one place, with no noise.

Finmap is the only financial management tool your business needs.

Forget the chaos and uncertainty — Finmap gives you complete clarity and control, in any currency, on any market.

Fast decisions, accurate forecasts, automated routine — so you can focus on growth, not paperwork.

This isn’t just financial tracking.
It’s your most powerful tool for scaling and profitability.

We’re working hard to make Finmap the global financial standard for entrepreneurs.
Support from a strategic partner like 1991 Ventures is proof that our product and team are ready for the next big leap.

Ready to take control of your finances?  Book a free consultation with our expert and get demo access to see firsthand how Finmap can work for your business.

Money disappears unnoticed — in deadlines, in revisions, in “portfolio” projects. And without a financial system in place, it’s hard even to know where.

This case is about an architecture studio that refused to work blindly, implemented financial management, and within a year achieved +173% in revenue and +286% in net margin. For more than six years, Finmap has been helping the team make data-driven decisions.

Not myth, not luck — but systematic work with finances.

Time to check: do your projects actually make profit, or do they just look good?

Bogdanova Bureau — Architecture, Design & Creative Solutions

Bogdanova Bureau doesn’t just create architectural designs — it builds holistic living spaces around the client. Their focus is on private and commercial properties, interior design, product design, and art direction.

The team guides each client from idea to realization with confidence and attention to detail. For founder Olha Bogdanova, creating a space should be an exciting adventure, not a source of stress.

How Finance Became Part of the Architectural Process

In 2018, after splitting off from a large architecture firm and starting her own business with a small team, Olga decided to take control of all processes into her own hands.

Right from the start, she decided that finances must operate as precisely as technical drawings.

In her previous company, they’d already used Finmap for financial management — but a dedicated accountant handled it. That experience proved to Olga that the program really works, so the choice was obvious.

She signed up for a trial period, learned the workflows, and then engaged a Finmap financial consultant. Olga knew that for management to serve as a strategic tool — not just a formality — she needed outside expertise and a professional point of view.

From her own experience, Olga understood that:

• Without financial management, even the most interesting projects can “eat up” profit.
• Creative freedom really means financial confidence.
• Making decisions blindfolded isn’t a strategy.

On short-term projects, it’s easy to allocate finances. On long-running ones it’s much harder: you have to track hours, reconcile balances and cash flows, and constantly log small expenses. - Olga Bogdanova, founder of Bogdanova Bureau

When Basic Financial Management Isn’t Enough

By then, Olga had plenty of business experience — the chaotic “all incoming money is our profit” phase was long behind her.

Many people don’t like finance, but it’s fundamental. It’s vital to keep an eye on it. If you don’t learn to love finance, finance won’t love you. - Olga Bogdanova, founder of Bogdanova Bureau

She clearly saw: if you want to scale, you must bring order to your finances — and not just implement management, but use the numbers as a decision-making tool.

She faced concrete tasks:

1. Calculate project cost. “Sometimes a project seems to go perfectly — especially if you have a great relationship with the client. But when you look at the numbers, it’s disappointing,” Olga says. She needed to know exactly where and why the business was losing profit so she could act in time.
2. Systematize expenses.
   Identify unnecessary costs, recurring payments, and optimization opportunities — to reallocate resources and spend smarter.
3. Implement proper managerial management. Not just logging cash movements, but to:
   • dive deep into Finmap’s capabilities;
   • configure the system for her specific needs;
   • test hypotheses and see results in numbers;
   • have an expert advisor on financial matters.
     ‍

A New Level: Why Every Business Needs Its Own Financial Expert

Olga began using the program herself — uploading data, setting up integrations, exploring the analytics. But once she saw what insights Finmap could deliver, new questions emerged. She needed to dig deeper.

That’s when she decided to bring in a Finmap financial expert.

This wasn’t a “formal upgrade” — it was a logical step, perfectly aligned with the studio’s growth pace.

Once we started working with an expert, that became the real turning point and the beginning of our friendship with finance. Finmap alone is great. But when you have someone who helps you make sense of it all and systematize everything, you save money. - Olga Bogdanova, founder of Bogdanova Bureau

From day one of that collaboration, Olga could:

• delegate routine tasks (data entry, reconciliations, categorization);
• focus on strategy — analysis, ideas, decisions;
• get answers to “what if I do this — how do we account for it?”;
• discuss hypotheses with a specialist who’s seen finances across many businesses and brings fresh ideas and approaches.
  ‍

Which Financial Solutions Work at Bogdanova Bureau

Financial management at Bogdanova Bureau quickly grew from a mere control tool into part of strategic management. Each new measure responds directly to business needs. Every result is clearly measured in numbers.

1. Hourly Model: Clear Mathematics, Not Guesswork

To price orders fairly and ensure precise payment for work done, they decided to break projects down into tasks and hours. This approach lets them react swiftly when a client requests extra revisions — they already know how much time it will take and what it will cost.

2. Each Client as a Separate Project in Finmap

For a project-based business, this is a must-have: in Finmap, every client is set up as its own project. All income and expenses are recorded separately, and the analytics provide a full picture of profitability, ROI, and financial outcomes.

3. Funds System: Financial Flexibility and Stability

When the studio switched to remote work, they temporarily stopped spending on the office. To prevent those savings from “dissolving” into ongoing costs, they decided to channel them into an internal fund.

That created the first financial reserve — and later they added several targeted funds:‍

• ‍Rent Fund – allowed stress-free leasing of the perfect office when the team returned onsite.‍
• Contingency Fund – automatically sets aside 2% of every receipt for errors or emergencies.‍
• Development Fund – investments in training, professional trips, and new opportunities.‍
• Marketing Fund – ensures a systematic approach to promotion and new client acquisition.

Thanks to this, the team isn’t at the mercy of circumstances — they build their own reserves, control fund allocation, and make decisions from a position of stability, not stress.‍

4. Analytics & Experiments: Data-Driven Decisions

New ideas at Bogdanova Bureau aren’t rolled out at random — each is tested as a distinct financial experiment. This lets them evaluate not only the creative value but also the economic feasibility of every initiative.

5. Tracking Even the Smallest Expenses‍

Recurring service fees, subscriptions, and software costs often stay “invisible” to the business. Individually they seem minor, but over a year they add up.

$7 per month becomes $90 per year. And it’s not just one tool. In Finmap this is tracked brilliantly — you see exactly where your budget goes. -
Olga Bogdanova, founder of Bogdanova Bureau

Finmap lets you plan your budget with precision and avoid hidden cash leaks.

How Finance Became a Source of Strength, Not Stress

Thanks to Finmap, the Bogdanova Bureau team began to manage money strategically: counting, planning, forecasting.‍

• ‍Systematic financial management. Finance at Bogdanova Bureau is no longer a standalone function but part of the company’s mindset. All cash flows, revenues, expenses, and projects are structured and under control.

For me, Finmap isn’t about forecasts; it’s about analysis. When you see the results in front of you, when you see where you shouldn’t spend more and where we’re losing.
- Olga Bogdanova, Founder, Bogdanova Bureau

• ‍Financial modeling and analytics. Olga builds financial models, analyzes profitability, and makes decisions based on data rather than gut feeling.‍
• Financial funds – reserve, development, marketing. Thanks to the fund system at Bogdanova Bureau, financial confidence emerged: money doesn’t just sit idle; it works toward specific goals.‍
• Clear economics of every project. Costs are calculated, prices justified, profitability measured. No more situations where one project’s losses are covered by another’s income.

Previously, we often operated at the expense of loans from other projects, dragging projects into the red. Proper financial management helps us see all this, save, and generate income where we didn’t even expect it. - Olga Bogdanova, Founder, Bogdanova Bureau

• ‍Profit and dividends – without harming the business. Olga knows exactly when and how much can be withdrawn from the company without creating cash gaps or undermining operations.‍
• Personal growth of the founder. With the support of a financial manager and continuous learning, Olga has grown significantly in financial competence — and now makes decisions from an expert standpoint.

Over this time I’ve grown tremendously in financial management because the financial manager helped me set everything up correctly and systematize everything.
- Olga Bogdanova, Founder, Bogdanova Bureau

An outsourced financier

will help you set up effective financial management and make informed management decisions

Order a free consultation

Financial Resilience and Expansion to the International Market with Finmap

Financial management isn’t just about spreadsheets — it’s about decisiveness, system, and confidence, even when everything around you changes.

Systematic Approach That Delivered +173% Income

After deploying Finmap and a comprehensive finance system that covered every project, expense line, and forecast, Bogdanova Bureau achieved remarkable results.

The team analyzed profitability across divisions, dropped low-margin projects, and focused on those that truly generate income.

This not only boosted revenue by 173% but tripled net margin.

Now we can see profitability before a project even kicks off. We make proactive decisions based on calculation, not intuition. - Olga Bogdanova, founder of Bogdanova Bureau

A Safety Cushion That Withstood the Toughest Crisis

The onset of full-scale war paused the entire economy. But thanks to pre-built reserve funds and flexible management, the company adapted by:

• optimizing expenses;
• reshaping the team;
• reallocating budgets;
• keeping projects in progress.

Bogdanova Bureau stayed afloat not by chance but by design. Their financial cushion bought them the time and space for measured decisions at the hardest moment.

A Bold Entry onto the Global Stage

The crisis became both a challenge and a catalyst. Leveraging analytics, forecasts, and clarity about their strengths, Bogdanova Bureau stepped onto the international arena.

Today they boast successful projects outside Ukraine, stable work with foreign clients, and a steadily strengthening position in a competitive new market.

Our focus now is fewer projects but bigger, more complex, and more profitable ones — backed by financial control that holds firm even in crisis. -
Olga Bogdanova, founder of Bogdanova Bureau

Changes Begin with Decisions

Olga journeyed from chaos to a clear system — and she did it not by hiring a large finance team, but by using the right tool, expert support, and recognizing the value of financial management.
Finmap became not just an management service but a true financial partner in growth.

You can too:

• systematize your financial management,
• uncover real profit and leak points,
• stop making decisions based on gut feel.

And most importantly — don’t face it alone.

Want to bring the same order to your business finances? Submit your request, and our expert will show you how to tailor it exactly to your processes.